...CHAPTER EIGHTEEN Lecture Notes for Essentials of Marketing 14e For use only with Perreault/Cannon/McCarthy or Perreault/McCarthy texts. © 2014 McGraw-Hill Companies, Inc. McGraw-Hill/Irwin Multimedia Lecture Support Package to Accompany Essentials of Marketing Lecture Script 20-1 This slide refers to material on p. 499. Summary Overview This chapter concludes Essentials of Marketing by covering three broad concepts: 1) Evaluating marketing As indicated in Chapter 1, there are two levels of marketing: • the micro (managerial) level—concerns the marketing activities of an individual firm; and • the macro level—concerns how the whole marketing system works. 2) The key components of an innovative marketing plan. 3) Challenges facing marketers. Multimedia Lecture Support Package to Accompany Essentials of Marketing Lecture Script 20-2 This slide relates to material on p. 498. Summary Overview This chapter suggests that satisfaction and costs serve as criteria for evaluating the impact of marketing. Key Issues • A nation’s objectives affect the evaluation of marketing. • The social and economic objectives of a nation may differ depending on that nation’s socio-political structure. • Consumer satisfaction is the objective in the United States. • This objective is derived from a market-based economic system, and it implies that political freedom and economic freedom go hand in hand. • In the U. S., people have the right to live as they choose and to satisfy...
Words: 3096 - Pages: 13
...01 Chapter - Overview of Marketing Chapter 01 Overview of Marketing True / False Questions 1. Google, Facebook and YouTube are all innovative, and each company has succeeded because it provided value to its customers. True False 2. Marketing is an activity that only large firms with specialized departments can use. True False 3. Good marketing is not a random activity. True False 4. Understanding a market's needs and wants is fundamental to marketing success. True False 5. Marketers would prefer to sell their products and services to everyone but it is not practical to do so. True False 6. The four Ps include persistence, promotion, presence, and performance. True False 7. Thoughts, opinions, philosophies and intellectual concepts fit the concepts of neither goods nor services, and they cannot really be marketed. True False 1-1 Chapter 01 - Overview of Marketing 8. The goals of marketing promotion are youth, style, and sex appeal. True False 9. The group of firms that makes and delivers a given set of goods and services is known as a supply chain. True False 10. Value is what you get for what you give. True False 11. In co-creation, the customer is involved as a collaborator in the creation of a product or service, which provides additional value to the customer. True False 12. Value-based marketing supports developing long-term customer loyalty. True False 13. During the past decade or so, marketers have begun to realize that they need to think about their customer orientation...
Words: 17701 - Pages: 71
...Advertising Executive Summary Islam is one of the most widely practiced religions in the world and can be found in many different regions throughout the globe. With such a large, widespread following these populations cannot be avoided by marketers. Firms selling product globally, especially in Muslim-majority countries, need to be aware of the norms and regulations in these nations and adapt their advertisements accordingly. This can pose a real challenge, even for large multinationals, as we will see throughout the remainder of the report. Additionally, regulations found in one Islamic nation can vary greatly in comparison to the advertising styles in another. Each country is different and although many nations are Muslim-majority, such as Saudi Arabia, Iran, and Indonesia, they all have varying practices and rules and cannot be treated as one in regards to advertising. A firm must tailor their marketing style to each individual nation while respecting and acknowledging their religious practices. As far as recommendations for marketers, they will need to be tailored to each country individually, but in general it is important to embrace the Islamic religion and integrate the brand into Muslims’ everyday life while taking care to respect their beliefs and practices. Islamic nations are said to be “the next frontier” of advertising, so it is essential that large firms and their agencies take note of these norms and regulations and use research and knowledge to their...
Words: 1842 - Pages: 8
...Advertising Executive Summary Islam is one of the most widely practiced religions in the world and can be found in many different regions throughout the globe. With such a large, widespread following these populations cannot be avoided by marketers. Firms selling product globally, especially in Muslim-majority countries, need to be aware of the norms and regulations in these nations and adapt their advertisements accordingly. This can pose a real challenge, even for large multinationals, as we will see throughout the remainder of the report. Additionally, regulations found in one Islamic nation can vary greatly in comparison to the advertising styles in another. Each country is different and although many nations are Muslim-majority, such as Saudi Arabia, Iran, and Indonesia, they all have varying practices and rules and cannot be treated as one in regards to advertising. A firm must tailor their marketing style to each individual nation while respecting and acknowledging their religious practices. As far as recommendations for marketers, they will need to be tailored to each country individually, but in general it is important to embrace the Islamic religion and integrate the brand into Muslims’ everyday life while taking care to respect their beliefs and practices. Islamic nations are said to be “the next frontier” of advertising, so it is essential that large firms and their agencies take note of these norms and regulations and use research and knowledge to their...
Words: 1844 - Pages: 8
...Axle Tracey Taschereau BUS401 February 3, 2013 April Miller Abstract American Axle Manufacturing (AAM) has already expanded globally into many areas. In order to better understand how a company initiates this process, we will walk through many areas together, including an overview/history; types of products and services offered; Australia and it’s cultural norms, the roles ethics and cultural diversity play; the political, legal, cultural, and economic make-up of Australia; the role that Information Technology and the Internet will play; the advantages or disadvantages of manufacturing and material location; and AAM’s approach to marketing and advertising. International Expansion American Axle Manufacturing is a leading, global Tier-One automotive supplier of driveline and drivetrain systems and related components for light trucks, SUVs, passenger cars, crossover vehicles and commercial vehicles. AAM is a multi-billion dollar company with more than 30 locations around the globe serving over 100 customers on five continents (AAM, 2013,). AAM announced the opening of its Winter Test Center in Arjeplog, Sweden on March 9, 2012 (AAM, 2013, Investors/Media). Overview and History of AAM According to AAM’s website the foundation for what is now AAM was established in 1917 when General Motors Corporation built an aircraft parts manufacturing facility in Detroit(AAM, 2013) . Later, automotive parts were added to the product mix. By 1920, two additional...
Words: 2955 - Pages: 12
...sociology, and statistics * Economics- borrowed the idea of utility- satisfaction received from owning or consuming a product or service * Value that consumers attach to the products * Supply and demand for products influence price, production costs influence supply, and utility influences demand * If consumers perceive that a product has utility-> inclined to consider purchasing it * Need- necessity to meet an urgent requirement * Want- desire for something that is not essential * Businesses uses marketing to transform want into a perceived need for a product * Businesses can increase demand- financial capacity to buy what a person wants- through things such as advertising * Brand- promise to deliver to consumers specific benefits associated with products * Can create a perception of greater...
Words: 1365 - Pages: 6
...OVERVIEW OF ONLINE ADVERTISING The emergence of technology has made online advertising the major channel of commercial communication around the world. Advertising is defined as any paid form of non-personal communication of ideas and information about products in the media with the objective of creating brand image (Kotler and Armstrong, 2010). The objective of advertising is to create awareness of a company, a brand, a website, or an event in order to stimulate sales and increase profits. For a long time, television, radio, newspapers, and magazines have dominated the advertising media. Now, online advertising is becoming the driving force in many advertising initiatives and efforts (Kotler and Armstrong, 2010). The Internet consists of globally interconnected computer networks that offer companies inexpensive and convenient tools for advertising and communicating with their customers. This is known as online advertising (Palumbo and Herbig, 1998; Kaye and Medoff, 2001). Various types of online advertisements are available on the Internet. According to Rodgers and Thorson (2000), online advertisements can be in the form of banner advertisements, pop-advertising, sponsorship, hyperlinks, and websites. Although online advertising is an effective tool to reach larger audiences, it is important that advertisers incorporate features to make it more effective. According to Tsang and Tse (2005), online advertising is effective if it is able to generate an immediate response from...
Words: 255 - Pages: 2
... Castilla et al. (1999) in their study suggests that overall consumption of alcohol may be going down but the problem of excessive consumption of alcohol among young adolescents is increasingly taking place in the society. The promotion of alcohol by its manufacturers and retailers is an important factor as irresponsible drinking among young people makes its way towards anti-social behaviour and health problems. Considering alcohol manufacturing and distribution for retailers being a big business all over the world, it is essential for companies to stay ahead between the competition using innovative marketing strategies and campaigns. “There is an ongoing debate regarding the relationship between advertising and alcohol consumption and, importantly, the influence of this advertising on harmful drinking patterns” (Roche, Steenson and Andrew, 2012). The work done in this report contains the connection of ideas presented by authors who already have completed their research on this topic. The main purpose of this paper is to study the patterns used by retailers to intentionally promote alcohol to young adults considering...
Words: 1574 - Pages: 7
...Course Title: MKTG 522 Marketing Management Name: Clara Ofori-Mante Service/Product: Restaurant Date: 11/05/2012 Table of Contents 1.0 Executive summary ……………………………………………………………… 4 2.0 Situation Analysis Overview …………………………………………………….. 5 2.1 Market Summary ………………………………………………………………... 7 2.2 SWOT Analysis …………………………………………………………………. 9 2.3 Competition ……………………………………………………………………...11 2.4 Product/ Service Offering …………………………………………………….….13 2.5 Keys to Success …………………………………………………………………..13 2.6 Critical Issues …………………………………………………………………….14 3.0 Marketing Strategy Overview …………………………………………………....15 3.1 Mission……………………………………………………………………………16 3.2 Marketing Objectives……………………………………………………………..17 3.3 Financial Objectives………………………………………………………………20 3.4 Target Markets……………………………………………………………………22 3.0 Marketing Strategy Overview …………………………………………………....23 3.5 Positioning ……………………………………………………………………………... 24 3.6 Pricing Strategies ………………………………………………………………………..25 3.7 Marketing Attack Strategy …………………………………………………………….27 3.8 Marketing Research ………………………………………………………………….. 29 4.0 Controls Overview …………………………………………………………………….31 4.1 Progress Milestones …………………………………………………………………...32 4.2 Marketing Organization ……………………………………………………………....34 4.3 Contingency Planning …………………………………………………………………35 5.0 Conclusion …………………………………………………………………………....36 References …………………………………………………………………………………….37 1.0 Executive Summary This is a marketing plan...
Words: 5957 - Pages: 24
...– An Overview Interactive online mediums are increasingly becoming the primary channel for content consumption today. Consumers have embraced this participatory and collaborative medium and in parallel there is an increasing demand for short on-demand content at a low price – best fitted for online medium. Advertisers thus have a perpetually aggravated spend on internet advertisements. Moreover, online advertisements do have additional useful dimensions such as geo-targeting, measurable ROI, popularity and so on. Online advertisement and associated business models are best realized through intelligent implementation of an ecosystem around Ad-servers and its complementing technology enablers. This paper examines such online advertisement dynamics in terms of business, technology and where they converge. Keywords Ad-servers, Traffic/Trafficking, Ad serving model, Interactive Advertising, Interactive Dynamics Interactive Advertisement Dynamics – An Overview About the Author Rani Bisal Rani Bisal is a Domain expert and a member of the Presales team for the Advertising & New Media sub-segment for the Media & Information Services Business Unit at TCS. She has over 5+ years of experience in domain consulting with wide range of experience in the Advertising industry, specifically the Online Media and the Ad Agencies. She has a bachelors degree in Mechanical Engineering. She can be reached at rani.bisal@tcs.com 1 Interactive Advertisement Dynamics – An Overview Table...
Words: 2772 - Pages: 12
...Activity 1 Consumer Profile Template 1. Executive Summary Keep in mind that not everyone will read every page of your marketing plan. Your executive summary should highlight the most important parts. It’s an overview of your marketing plan. As you go through the process of writing your plan you will refine your ideas and develop new strategies. By writing the executive summary at the very last you will be able to provide a holistic overview of your marketing plan. It is recommended that you include the following points in your executive summary: * Brief description of products or services * Define target market * Competitive advantage You need to tailor your offer so that your target customers believe that it is superior to what is offered by your competition - this is your competitive advantage. Competitive advantage can come from any element of your marketing mix - creating a superior product, more attractive designs, better service, more effective distribution or better advertising. Competitive advantage comes down to understanding what your customer values, delivering it and doing it better than your competitor. * Positioning statement Positioning is the way your product or service is defined by consumers. For example a consumer would describe a Ferrari as a prestige, high performance sports car. This perception by the consumer is due to a strategy developed by Ferrari to position itself in the prestige segment of the car market with a competitive advantage...
Words: 2155 - Pages: 9
..."DIFFERENCE BETWEEN INTERNET ADVERTISEMENT AND TV ADVERTISEMENT IN BUILDING STRONG BRANDS" WHAT IS A BRAND? According to Rita Clifton, CEO of Interbrand Newell and Sorrell - a leading specialist brand consultancy firm - a brand is: "A mixture of tangible and intangible attributes, symbolized in a trademark, which, if properly managed, creates influence and generates value" This definition truly captures the essence of a brand, and highlights the importance of brand management. Branding is about creating 'value', both for customers, and for the company. This value stems from the products and services that companies create and bring to the market, but extends further to encompass added values derived from factors such as the brand-customer relationship, the brand's emotional benefits and its self-expressive benefits. Other common descriptions of a brand include - a 'relationship', a 'reputation', a 'set of expectations', and a 'promise'. It is a company's promise to consistently deliver a specific set of features, benefits, and services to customers. Brands are richly endowed entities. They start life as ideas, making their way into planning and strategy documents, yet ultimately reside as consumer perceptions. For some companies, brands are their most valuable asset. The space a brand occupies inside a customer's head can create a 'mental' patent, which grows out of the cumulative memory and the experiences customers have of products or services. As...
Words: 2427 - Pages: 10
...Preparing Your Marketing Plan Disclaimer The information contained herein is for the sole purpose of information, guidance and education which was extracted and compiled from various sources. This template represents guidelines and SME Corporation Malaysia reserves the right to modify this template, amend or terminate the information published at any time without notice. While every effort has been made to ensure the accuracy of information presented as factual, however error or omission may still exist. The information, whether policies, procedures, samples, examples or guidelines is not guaranteed for accuracy and legality. Please seek legal advice to make certain your legal interpretation and decisions are correct. SME Corporation Malaysia is not responsible for errors, omissions or damages of any kind resulting from the use of the information contained herein. If you need further information, assistance or reference about SME or microfinance issues or in completing this business plan, please contact us at 1 300 88 1801 or the One Referral Centre or send us an email at info@smecorp.gov.my. [Place your business logo here] [Business Name] Marketing Plan Date prepared: [Date prepared] Prepared by : [Your Name] [Your Title] [Business Name] [Business Address] Table of Contents 1. Executive...
Words: 1881 - Pages: 8
...Advertising and Consumer Culture Wednesday 10:00-12:00; SW 319 MDSB03H3 Instructor: Dr. Stacy M. Jameson Email: stacy.jameson@utoronto.ca Office Hours: Wednesday 12:30-2:30PM; HW411A (or make an appointment to visit my office on the St. George Campus) This course introduces students to the study of advertising as social communication and provides a historical perspective on advertising's role in the emergence and perpetuation of “consumer culture.” The course examines the strategies employed to promote the circulation of goods as well as the impact of advertising on the creation of new habits and expectations in everyday life. Required Course Texts: Juliet Schor and D.B. Holt (eds), The Consumer Society Reader Joseph Turow and Mathew Mcallister, The Advertising and Consumer Culture Reader *Additional PDFs posted on Blackboard Assignments and Grade Distribution: Participation, Reading Quizzes, and any In-Class Assignments 10% Essay One: Ad Analysis 15% Midterm Exam 20% Essay Two: Branding 25% Final Exam 30% Essay One: Ad Analysis This short essay (500-800 words; 12 point font, double spaced) will offer an analysis of a single print advertisement of your choice. You must situate your discussion of the ad within a historical context (what are some historical trends that set the stage for this form of commercial text?). You must then identify the central trope or strategy being used and explain its rhetorical function...
Words: 1235 - Pages: 5
...Running Title: DECISONMAKER OVERVIEW DecisonMaker Overview Nicodemus Pederson MKTG320ON Session Summer A Douglas Shelton September 27, 2009 Market Research is a necessity for any company to become successful and profitable in the world market all the way down to small local markets. The Marketing Director or Manger is responsible to provide the proper ideas and solutions for the advertising and marketing staff to promote the product or service being offered to the public. In this case that was purposed to me, I was to be the acting Product Manager for MAXGEN and the Sat-Rad Radio product line and services. I completed a three part DesionMaker Exercise that was designed to allow me the ability to find and understand what this position entails and ways to actually promote the product into new demographics to create a profit margin that is currently nonexistent. With Sales that were exceeding over $50 Million Dollars and no profit is a great way to lose a company so I was tasked to create new ways to gain customers and lower the expenses of gaining those customers along with creating repeat business from the current customers as well. The sample definition given to me of the current users and those that purchased the competition allowed me to gather first hand research on the current users and their reasoning behind their purchase decisions and usage after the purchase. This also allowed me to pass on the reasoning of why they...
Words: 1049 - Pages: 5